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Message
re: Brady gives Superbowl truck to Butler
Posted on 2/3/15 at 10:17 am to boom roasted
Posted on 2/3/15 at 10:17 am to boom roasted
quote:Im sure you are being a cock, because you are, but I will explain for people who legit are curious. Brady won the car, so he will take possession of it as his. Therefore, he reports the 30k on his income. He then gifts the car to Butler. Butler received a gift, so he owes no taxes. Brady and gisele then have to pay 2k of gift taxes as well (30k-28k)
You sure?
1
Posted on 2/3/15 at 10:21 am to boom roasted
Or we can just makeup our own tax code and call Brady a dick for making Butler pay taxes for something he didnt want like the other poster suggests 
This post was edited on 2/3/15 at 10:21 am
Posted on 2/3/15 at 10:21 am to lsupride87
I'm sure Butler can afford his pro-rata share of the taxes.
Posted on 2/3/15 at 10:25 am to boom roasted
quote:Prolly not. Amazing Brady is going to get positive attention for simply avoiding taxes and putting them on someone else
I'm sure Butler can afford his pro-rata share of the taxes.
Posted on 2/3/15 at 10:27 am to lsupride87
quote:Just goes to show you how many people don't understand tax law.
Amazing Brady is going to get positive attention for simply avoiding taxes and putting them on someone else
Posted on 2/3/15 at 10:28 am to lsupride87
A lot of the time, with these types of awards, Chevy pays the taxes themselves. It would look terrible for Chevy to give a player a truck and him not be able to afford the taxes.
Posted on 2/3/15 at 10:31 am to boom roasted
quote:Yep
Just goes to show you how many people don't understand tax law
Posted on 2/3/15 at 10:32 am to Jcorye1
quote:There is no way for Sir Thomas to avoid putting the truck as income on his tax return though. I guess chevy could gift him the money that will be owed due to his income hike
Chevy pays the taxes themselves
Posted on 2/3/15 at 10:34 am to lsupride87
If you drive an American made car you titty frick nutsacks
frick American made cars
frick American made cars
Posted on 2/3/15 at 10:38 am to tigerskin
Tommy Brady, class act
Posted on 2/3/15 at 10:38 am to goldennugget
:baitset
Posted on 2/3/15 at 10:40 am to lsupride87
Usually that is how they do it. From what I understand, they treat it like a Use Tax to avoid charging people Sales Tax and "Gift" it through the NFL, which is technically a tax exempt organization, thus donating it.
Posted on 2/3/15 at 10:40 am to tigerskin
That's the least he could do.
Posted on 2/3/15 at 10:48 am to lsupride87
quote:
Brady pays the taxes buddy. Gift tax my man.
Are you sure? I thought the reciever pays the gift tax, not the giver.
Posted on 2/3/15 at 10:50 am to trackfan
Giver pays the Gift Tax. Technically, the giver could just give the receiver the item at a discount, and the receiver would then pay it as straight income on the fair market value.
Posted on 2/3/15 at 10:51 am to trackfan
quote:Nope.
Are you sure? I thought the reciever pays the gift tax, not the giver.
Posted on 2/3/15 at 10:52 am to Jcorye1
quote:If Brady did this he would be the biggest dick of all time
Technically, the giver could just give the receiver the item at a discount, and the receiver would then pay it as straight income on the fair market value.
(I know he isnt)
Posted on 2/3/15 at 10:59 am to tigerpimpbot
quote:
They better check that tire pressure tho
upvoted and underappreciated.
Posted on 2/3/15 at 11:14 am to tigerskin
He should have since him he robbed him of the mvp
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